Tao Heung Holdings Income Statement

Financials in millions HKD. Fiscal year is January - December.

Millions HKD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	2,319	2,426	2,949	2,402	2,836
Revenue Growth (YoY)	-4.39%	-17.76%	22.80%	-15.31%	18.74%
Cost of Revenue	2,168	2,293	2,624	2,418	2,633
Gross Profit	151.4	133.07	325.67	-15.68	203.34
Selling, General & Admin	189.95	191.69	240.35	246.22	273.52
Other Operating Expenses	-0.22	2.14	-1.72	7.91	-2.74
Operating Expenses	189.73	193.83	238.63	254.12	270.78
Operating Income	-38.33	-60.76	87.04	-269.8	-67.44
Interest Expense	-16.86	-18.52	-24.8	-27.02	-30.7
Interest & Investment Income	2.62	6.18	6.86	8	9.67
Earnings From Equity Investments	1.52	-0.62	2.15	2.53	8.39
Currency Exchange Gain (Loss)	3.24	-	3.17	-	1.23
Other Non Operating Income (Expenses)	13.77	30.95	58.95	25.25	47.97
EBT Excluding Unusual Items	-34.05	-42.76	133.37	-261.06	-30.89
Impairment of Goodwill	-	-	-1.88	-	-
Gain (Loss) on Sale of Assets	-	-	-	-	0
Asset Writedown	-14.19	-15.44	-28.32	-26.49	-13.89
Other Unusual Items	7.71	23.69	16.57	130.2	26.67
Pretax Income	-40.52	-34.51	119.75	-157.34	-18.11
Income Tax Expense	18.13	11.26	34.29	-20.32	0.97
Earnings From Continuing Operations	-58.65	-45.77	85.46	-137.02	-19.07
Minority Interest in Earnings	-1.28	-7.03	-11.8	-6.12	-2.16
Net Income	-59.93	-52.8	73.66	-143.14	-21.23
Net Income to Common	-59.93	-52.8	73.66	-143.14	-21.23
Shares Outstanding (Basic)	1,014	1,014	1,014	1,014	1,016
Shares Outstanding (Diluted)	1,014	1,014	1,014	1,014	1,016
Shares Change (YoY)	-	-	-	-0.21%	-0.01%
EPS (Basic)	-0.06	-0.05	0.07	-0.14	-0.02
EPS (Diluted)	-0.06	-0.05	0.07	-0.14	-0.02
Free Cash Flow	-	159.27	424.35	155.48	315.8
Free Cash Flow Per Share	-	0.16	0.42	0.15	0.31
Dividend Per Share	-	-	0.060	0.060	0.060
Dividend Growth	-	-	-	-	100.00%
Gross Margin	6.53%	5.49%	11.04%	-0.65%	7.17%
Operating Margin	-1.65%	-2.50%	2.95%	-11.23%	-2.38%
Profit Margin	-2.58%	-2.18%	2.50%	-5.96%	-0.75%
Free Cash Flow Margin	-	6.57%	14.39%	6.47%	11.13%
EBITDA	91.46	69.03	237.59	-109.96	96.96
EBITDA Margin	3.94%	2.85%	8.06%	-4.58%	3.42%
D&A For EBITDA	129.78	129.78	150.55	159.84	164.4
EBIT	-38.33	-60.76	87.04	-269.8	-67.44
EBIT Margin	-1.65%	-2.50%	2.95%	-11.23%	-2.38%
Effective Tax Rate	-	-	28.63%	-	-

Source: S&P Global Market Intelligence. Standard template. Financial Sources.